I've said as much before on other threads. Its appalling that...

I've said as much before on other threads. Its appalling that Joe public still look at the share price as a barometer of company's, and share indices as a country's, economic health. The disconnect with the US stock market and the massive monetary pump during COIVD the best example.

Qantas' rally is all to do with the share buyback and short term profits in a market it can temporarily restrict supply to and raise prices on that it does offer. The debt and cash flow situation at Qantas is admittedly far better, but its far from good enough to warrant a buyback.

It is ironic that the company announced on the same day a buying back 1.89 billion shares, the exact same day it announced a $1.86 billion loss. Even very few American companies (where buy backs are rife) announce buy backs with negative shareholder equity - and many in subsequent years have gone broke with weak balance sheets. Even the yanks are rarely that reckless. It seems its okay for a foreigner to play poker with the national airline.